216 [Indices looking good but where are the setups? Oct 23, 2020]

  • Solars probably need a bit more time to set up, SPWR could be a 5* setup in a couple days, very close to being a great setup, and also CSIQ couple more days if it can just tighten up a little bit, this thing starting to look really good.
  • Indices look great, COMPQX looks great, had a nice run from the Sep lows, had an orderly pullback, found support on the rising 20day, and there are no setups it’s pretty amazing. You would think with the indices like this there would be 100s of good looking stocks, but there are not, look at the leading stocks, SHOP, OKTA, DDOG, SQ, they’re all kinda broken for now, for now.
  • TSLA, I went short, it failed on vwap a couple of times, not full size yet, I’d like this thing to breakdown below the 420 area. Missed orls, it’s right on the 50day, if this thing loses the 50day could get ugly, added a little bit more. TSLA is trying to reclaim the 50day, if it can’t next stop is like 19% lower the 100day. My short thesis is that it’s breaking down, the last couple of times it has reversed at the 50day, but I think this time it could do it, this is the third one. Third time’s a charm. That’s how it usually works in the markets, if a stock tests an area several times, the more times it tests it, the higher the probability of success. It’s the same thing with breakouts, that’s why I think if a stock has had a failed breakout and then resets and tries to breakout again, that’s a stronger setup, and I think it’s the same thing with breakdowns.
  • NIO, I covered up most, it didn’t really break down, still have some will see how it acts today. Also added to NIO orls, added back what I covered yesterday. About to take out yesterday’s lows, just about to lose this range here, you can clearly see, you have this big range here and this thing has been building lhs for the past 6/7sessions. It needs to close at or near lods for me to hold a position overnight.
  • WEI is starting to breakdown further, gonna cover this one before the close. Here it is sub 2. I’m trying to get back into smallcap momo shorting.
  • ALGN and SNAP EPs I missed, earnings season is just starting, there’s gonna be a bunch of these. EPs could be a few weeks to a few quarters, it depends, EPs you can daytrade them, you can short term swingtrade them, you can position trade them.
  • I do wish I was short one more stock, maybe SQ when it first started breaking down, but I didn’t realise all the stocks were gonna break down, when I saw this SQ breakdown, it was one of the first leaders to start breaking down, so I didn’t realise the potential and passed on it, rn it’s holding but I think it’s gonna go to the 50day.


  • Is Pradeep my fav trader? No, I am my fav trader. David is my least fav trader.
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